Ratio	2019	2020	2022	2023
Margins
Gross Margin	38.0%	N/A	36.6%	-27.2%
EBITDA Margin	33.3%	N/A	29.6%	-1286.4%
EBITDAR	951	-333	2,454	-714
EBITDAR Margin	33.3%	N/A	30.0%	-1221.6%
EBIT Margin	33.3%	N/A	29.3%	-1332.9%
Net Profit Margin	32.5%	N/A	30.2%	-1283.2%
Operating Expense % of Sales	4.7%	N/A	7.0%	1259.2%
Returns
Return on Assets (ROA)	31.5%	-5.9%	29.3%	-5.5%
Return on Equity (ROE)	103.2%	-38.9%	84.0%	-40.2%
ROIC [EBIT / Invested Capital]	110.4%	-91.2%	54.1%	-35.8%
Leverage & liquidity
Debt-to-Assets	10.9%	1.2%	18.9%	17.9%
Debt-to-Equity	0.36x	0.08x	0.54x	1.31x
Debt-to-EBITDA	0.34x	N/A	0.66x	N/A
Equity-to-Assets	30.6%	15.2%	34.9%	13.6%
Net Debt	-38	-651	1,484	312
Cash & Equivalents	359	732	111	2,136
Total Debt	321	80	1,595	2,448
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A	N/A
Receivables Turnover	138.01x	N/A	187.50x	1.94x
Days Sales Outstanding (DSO)	2.6	N/A	1.9	187.7
Payables Turnover	12.03x	0.48x	77.51x	0.58x
Days Payable Outstanding (DPO)	30.3	766.4	4.7	633.6
Cash Conversion Cycle	-27.7 days	-766.4 days	-2.8 days	-445.9 days
Asset Turnover	0.97x	0.00x	0.97x	0.00x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	N/A	N/A

Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in ₾ '000. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

Ownership & group structure

Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.

companyinfo.ge · fetched 2026-07-15